Crescent Park Management L.P. Has $1.27 Million Stock Holdings in Marvell Technology, Inc. (NASDAQ:MRVL)

Crescent Park Management L.P. trimmed its holdings in shares of Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) by 48.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,467 shares of the semiconductor company's stock after selling 10,905 shares during the period. Marvell Technology accounts for about 0.5% of Crescent Park Management L.P.'s investment portfolio, making the stock its 23rd biggest holding. Crescent Park Management L.P.'s holdings in Marvell Technology were worth $1,267,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Intrepid Financial Planning Group LLC grew its position in shares of Marvell Technology by 0.3% during the 4th quarter. Intrepid Financial Planning Group LLC now owns 25,890 shares of the semiconductor company's stock worth $2,860,000 after buying an additional 90 shares during the period. PDS Planning Inc grew its holdings in shares of Marvell Technology by 3.3% in the 4th quarter. PDS Planning Inc now owns 2,888 shares of the semiconductor company's stock valued at $319,000 after buying an additional 92 shares during the period. Lodestone Wealth Management LLC increased its position in shares of Marvell Technology by 2.0% in the 4th quarter. Lodestone Wealth Management LLC now owns 4,655 shares of the semiconductor company's stock valued at $514,000 after buying an additional 93 shares in the last quarter. Valley National Advisers Inc. increased its holdings in shares of Marvell Technology by 0.4% in the fourth quarter. Valley National Advisers Inc. now owns 25,135 shares of the semiconductor company's stock worth $2,775,000 after acquiring an additional 96 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Marvell Technology by 2.7% during the fourth quarter. Private Trust Co. NA now owns 3,744 shares of the semiconductor company's stock worth $414,000 after purchasing an additional 97 shares during the period. 83.51% of the stock is currently owned by institutional investors and hedge funds.

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Marvell Technology Stock Performance

MRVL stock traded up $0.56 during trading hours on Wednesday, hitting $63.23. 13,036,853 shares of the stock were exchanged, compared to its average volume of 12,939,000. Marvell Technology, Inc. has a 12 month low of $53.19 and a 12 month high of $127.48. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $54.76 billion, a P/E ratio of -37.19, a P/E/G ratio of 1.61 and a beta of 1.42. The company has a 50-day simple moving average of $90.32 and a two-hundred day simple moving average of $93.37.

Marvell Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Friday, April 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, April 11th. Marvell Technology's dividend payout ratio is -23.53%.

Analyst Ratings Changes

A number of analysts recently issued reports on MRVL shares. TD Cowen lowered their target price on Marvell Technology from $125.00 to $95.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Barclays dropped their price objective on shares of Marvell Technology from $150.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Melius Research raised shares of Marvell Technology to a "strong-buy" rating in a research note on Monday, January 27th. William Blair raised Marvell Technology to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, UBS Group upped their price objective on Marvell Technology from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $120.44.

Insiders Place Their Bets

In other Marvell Technology news, CAO Panteha Dixon sold 1,430 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $68.75, for a total transaction of $98,312.50. Following the transaction, the chief accounting officer now owns 31,100 shares in the company, valued at $2,138,125. This trade represents a 4.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Willem A. Meintjes sold 1,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $118.33, for a total value of $177,495.00. Following the sale, the chief financial officer now directly owns 111,211 shares in the company, valued at approximately $13,159,597.63. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,685 shares of company stock worth $4,026,768 in the last quarter. 0.33% of the stock is currently owned by corporate insiders.

About Marvell Technology

Marvell Technology, Inc, together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to network edge. The company develops and scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality.